Video Transcription
Bob: Hello guys, it’s Bob The Flipper and I’m over here in Mount Airy, Maryland today to tell you the story about this property that we just bought the other day. It was actually a bank owned home that was bought on an auction site. And recently we were working on a property a mile down the street on the same road for probably the last four or five months. And during that time period we had driven by this house several times and noticed that it looked like the owners of the property might be in some sort of distress as far as taking care of the property. We actually sent them a letter because we found out that they were in pre-foreclosure, and frequently we will reach out to people in pre-foreclosure and offer to buy their home.
In this particular case, the sellers never responded to us or our offer to meet with them to make them an offer to buy their home, which is a little bit sad if you ask me because at the end of the day we ended up buying this property from the bank and the bank received their payoff amount and the bank was whole in the transaction, so to speak.
In this particular case, the sellers of the home, or the people who previously owned the home, were actually evicted a couple of weeks before the auction. So had they accepted our offer to meet with them to make an offer to buy the home, they probably could have sold the property to us for the same dollar amount that we paid the bank for and they could have received at least a few thousand dollars, maybe five or $10,000 on top of that. That would have helped them with move out expenses, would have helped them maybe find a new place to live. So it’s a little bit sad that some folks get into that situation.
But I wanted to run this scenario by you in case you knew anybody that’s in pre-foreclosure because we do have options that can help folks that are in pre-foreclosure. Now it doesn’t always work and it’s not for everyone. But in many cases we’re able to pay off the bank note and give the seller enough money to help them find a new place to live, to start over.
You know, life happens, sometimes people find themselves in this situation. They might be in pre-foreclosure, they might be in foreclosure, but it’s usually not too late until the property is taken over by the bank. In this case here in Mount Airy, the bank took over the home and actually evicted the people.
So had we been able to talk to them a month or two before that happened, we could have brought them current, we could have paid for the property in cash quickly, and paid off their note and their back mortgage payments and given them some cash to help them go find a new place to live.
So I don’t know if you know anybody in that situation, but if you do, you know, feel free to reach out to me. Go to our website, marylandcashhousebuyers.com, mdcashhousebuyers.com and click the quick response form and we’ll be back in touch with them or with you.
All right, that’s the story here in Mount Airy. We do this all over the place in Frederick, in Carroll County and Westminster, in Howard County and Columbia, in Laurel, Maryland, in Burtonsville, Maryland. There are probably, right now I’m going to say 6,000 properties on our pre-foreclosure list, and like I said, life happens. So if we can help somebody’s life be a little bit easier by taking over their payments, by paying off their note and helping them find a new place to live, they can avoid the issue of dealing with the bank and the issue of being evicted from their home and having the bank just take the thing over.
Okay everybody, have a nice day. Thank you.